Central Maryland June Housing Report
June Houses Sold: 3,211
May 2020: 2,365
MTM Change: 26%
June 2019: 3,409
YOY Change: -6%
Average Sold Price $356,495
Median Sold Price: $335,000
Average Pending: 2,9151
Inventory
June 2020: 4,519
May 2020: 5,027
MTM Change: -11%
June 2019: 13,043
YOY Change: -65%
Inventory Accumulation1
June 2020: 1.9
May 2020: 2.1
MTM Change: -.09%
June 2019: 3.8
YOY Change: -.50%
Median List Price
June 2020: $349,000
May 2020: $345,000
MTM Change: 1%
June 2019: $340,000
YOY Change: +2.5%
New Listings
June 2020: 3,747
May 2020: 3,436
MTM Change: +8.2%
June 2019: 4,053
YOY Change: -7.5%
Mortgage Rates Reach All-Time Low
In a year of financial firsts, this June housing report stands out: Mortgage rates have fallen below the 3% mark.
The average rate on a 30-year fixed mortgage fell to 2.98%, mortgage-finance giant Freddie Mac said Thursday, its lowest level in almost 50 years of record keeping. It is the third consecutive week and the seventh time this year that rates on America’s most popular home loan have hit a fresh low.
Mortgage Rate YOY (Year Over Year) Change as of July 16, 220
30-Yr FRM
July 16, 2020, 2.98%
July 16, 2019, 3.81%
YOY Change: -22%
**Source Bright MLS**
Notes: Central Maryland includes the following Counties: Anne Arundel County, Cecil County, Baltimore City, Baltimore County, Harford County, Carroll County, Howard County, Prince George’s County
1-This is the number of months it would take to sell off all the currently active listings at this time.
Search Criteria- Houses between $200,000 – $600,000.
If you are in the market for buying or selling a home, Vinny Steo is your best choice in Bel Air, Maryland to help you. Call us at 410-220-0016 or fill out the form below.
